Corstorphine + Wright has been appointed as lead architect for the redevelopment of the waterfront landmark, bought in February by Corestate Capital.

The practice will be supported by independent heritage buildings advisor Peter de Figueiredo and CBRE’s planning department in a team assembled by CBRE’s building consultancy team.

The building, one of the city’s Three Graces, was acquired by Corestate, a Luxembourg-based international investor, for £48m after being put on the market for the first time in its history. Everton FC owner Farhad Moshiri was Coretate’s partner on the deal, with Barings providing a £29.7m facility to support the acquisition.

CBRE said that the project team is tasked with exploring opportunities to not only enhance the experience of those that work within the waterfront building, but for the millions of visitors to the site. The building itself comprises 330,000 sq ft of office and events space.

Ed Baverstock, architect director at Corstorphine + Wright, said: “It is an enormous privilege to be selected to consider the redevelopment opportunities of this iconic Liverpool landmark. Corstorphine + Wright has a wealth of experience in the respectful conservation and sensitive revival of historic buildings across the UK and we are honoured to play our part as custodians of this magnificent grade one-listed property.”

Headquartered in Warwick, Corstorphine + Wright has ten offices, including one in Manchester. Projects in the region include recent work on Manchester’s Royal Exchange, Kentgate Place in Kendal and a health centre in Grange-over-Sands.